A.P.M.: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
A.P.M.
Largest movements
- Tangible fixed assets -€8,214
down €8,214 (-51.0%), from €16,102 to €7,889
of which Furniture and vehicles: -€7,823
- Receivables within one year -€7,170
down €7,170 (-18.9%), from €37,952 to €30,782
of which Trade receivables: -€6,764
- Accrued charges and deferred income -€30,000
no longer reported in 2025 (was €30,000)
- Profit (loss) carried forward +€9,191
up €9,191 (+48.0%), from -€19,143 to -€9,952
- Short-term financial debts +€2,678
up €2,678 (+48.8%), from €5,488 to €8,166
- Other debts +€1,411
up €1,411 (+15.5%), from €9,113 to €10,524
- Trade debts +€1,339
up €1,339 (+25.0%), from €5,354 to €6,693
- Financial income +€29,985
up €29,985 (+195339.7%), from €15 to €30,000
of which Non-recurring financial income: +€30,000
- Gross operating margin -€6,930
down €6,930 (-204.3%), from -€3,391 to -€10,321
- Financial charges +€410
up €410 (+35.6%), from €1,154 to €1,565
- Depreciation -€126
down €126 (-1.5%), from €8,340 to €8,214
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,147 | €38,765 | -€15,382 | -28.4% |
| Fixed assets | 21/28 | €16,102 | €7,889 | -€8,214 | -51.0% |
| Tangible fixed assets | 22/27 | €16,102 | €7,889 | -€8,214 | -51.0% |
| Plant, machinery and equipment | 23 | €710 | €319 | -€391 | -55.0% |
| Furniture and vehicles | 24 | €15,392 | €7,570 | -€7,823 | -50.8% |
| Current assets | 29/58 | €38,045 | €30,876 | -€7,168 | -18.8% |
| Amounts receivable within one year | 40/41 | €37,952 | €30,782 | -€7,170 | -18.9% |
| Trade receivables | 40 | €33,147 | €26,383 | -€6,764 | -20.4% |
| Other amounts receivable | 41 | €4,805 | €4,400 | -€405 | -8.4% |
| Deferred charges and accrued income | 490/1 | €93 | €94 | +€1 | +1.6% |
| Total equity and liabilities | 10/49 | €54,147 | €38,765 | -€15,382 | -28.4% |
| Equity | 10/15 | €4,192 | €13,383 | +€9,191 | +219.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,135 | €17,135 | = | 0.0% |
| Non-distributable reserves | 130/1 | €885 | €885 | = | 0.0% |
| Reserves not available under the articles | 1311 | €885 | €885 | = | 0.0% |
| Distributable reserves | 133 | €16,250 | €16,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,143 | -€9,952 | +€9,191 | +48.0% |
| Amounts payable | 17/49 | €49,955 | €25,382 | -€24,572 | -49.2% |
| Amounts payable within one year | 42/48 | €19,955 | €25,382 | +€5,428 | +27.2% |
| Financial debts | 43 | €5,488 | €8,166 | +€2,678 | +48.8% |
| Credit institutions | 430/8 | €5,488 | €8,166 | +€2,678 | +48.8% |
| Trade debts | 44 | €5,354 | €6,693 | +€1,339 | +25.0% |
| Suppliers | 440/4 | €5,354 | €6,693 | +€1,339 | +25.0% |
| Other amounts payable | 47/48 | €9,113 | €10,524 | +€1,411 | +15.5% |
| Accrued charges and deferred income | 492/3 | €30,000 | - | -€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,340 | €8,214 | -€126 | -1.5% |
| Other operating charges | 640/8 | €690 | €710 | +€20 | +2.9% |
| Gross operating margin | 9900 | -€3,391 | -€10,321 | -€6,930 | -204.3% |
| Operating profit (loss) | 9901 | -€12,421 | -€19,245 | -€6,824 | -54.9% |
| Financial income | 75/76B | €15 | €30,000 | +€29,985 | +195339.7% |
| Recurring financial income | 75 | €15 | €30,000 | +€29,985 | +195339.7% |
| Non-recurring financial income | 76B | - | €30,000 | +€30,000 | |
| Financial charges | 65/66B | €1,154 | €1,565 | +€410 | +35.6% |
| Recurring financial charges | 65 | €1,154 | €1,565 | +€410 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,560 | €9,191 | +€22,751 | |
| Profit (loss) for the period | 9904 | -€13,560 | €9,191 | +€22,751 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,560 | €9,191 | +€22,751 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.